A manager should use a relatively democratic leadership style only when
A. enough time is available.
B. a work group has little experience in making its own decisions.
C. decisions need to be made quickly.
D. tasks are structured.
Answer: A
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Under the completed contract method
a. revenue and cost are recognized during the production cycle, but gross profit recognition is deferred until the contract is completed. b. revenue, cost, and gross profit are recognized during the production cycle. c. revenue, cost, and gross profit are recognized at the time the contract is completed. d. none of these
An accountant is uncertain about the best estimate of an amount for a business transaction. If there are two possible amounts that could be recorded, the amount least likely to overstate assets and earnings is selected. Which of the following qualities is characterized by this action?
A) Comparability B) Conservatism C) Materiality D) Neutrality
Answer the following statement(s) true (T) or false (F)
6. It is not possible for enterprising nonprofits to use both venture philanthropy funding and earned-income activities. 7. Earned income activities are the sale of products or services that are used as a source of revenue generation. 8. Organizations using the hybrid model of social entrepreneurship prioritize social goals over economic goals. 9. The “buy one give one” campaign of companies wanting to be socially aware may be causing more problems than the problem they are trying to solve. For example, Tom’s Shoes might actually be injuring the local businesses as it stifles local industry and potentially increases local unemployment in the country getting the give-away shoes. 10. Social entrepreneurs use the fundamental principles of entrepreneurship to build businesses of economic and social value.
You have an average outstanding balance on your credit card of $1,000. Which of the following would be your best choice for minimizing the cost of credit?
A) Annual fee of $25 and 10% on the outstanding balance B) Annual fee of $10 and 12% on the outstanding balance C) No annual fee and 15% on the outstanding balance D) Annual fee of $50 and 8% on the outstanding balance